Commentary: It is unfortunate that the former Chancellor feels compelled to continue his misrepresentation of the facts. This budget information is all in the public record, both in writing and in video. At no time during the last two budgets, did the former administration disclose the full financial impact of this scholarship program. It was not until the week prior to the March 28, 2018 Regents Strategic Investment Summit meeting that a budget line item was disclosed at $2.0M -- far lower than the $5.3M that we are currently estimating. Since that date, the $2.0M has been consistent in all reports to the Regents.
We have chosen to publicly acknowledge the estimated budget shortfall as part of our fiduciary responsibility and look for positive solutions that will balance our financials with full commitment to our student's success and the future of the University.